Why Organizations Must Reinvent Their Talent Strategy And Embrace Open Innovation
A Forbes website article discussed how two two companies were implementing opening innovation and presented ideas about how businesses can introduce open innovation in their companies. Eli Lilly bases its open innovation on collaboration. The company’s objective is to discover molecules with the potential to become medicines and its Open Innovation Drug Discovery program enables outsiders to access the same tools and expertise available to its own scientists. Lego has been an early adopter of open innovation. Its crowdsourcing platform, Lego Ideas, invites fans’ suggestions for new Lego products, and any idea with over 10,000 votes is eligible to become a part of the company’s future portfolio. As the world moves closer toward a gradual recovery from the Covid-19 pandemic, one of the lessons businesses can learn is to leverage the benefits of open innovation. This will help companies keep pace with change, stay on top of their game and remain relevant.
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